euro/dollar, just above 1.30. it was just below it at the low point last week. a survey by reuters says economists are starting the year 2013 in a relatively optimistic mood. i wonder whether the key word is relative. how were they last year? >> what we're seeing in this survey is that opt on mimp has picked up quite a bit in the last six months. looking behind the headline numbers, what seems to have happened is there's a pretty big fact in expectations of the break-up of a single currency. a year ago, that was a dominant concern. there's more confidence about the outlook for growth in the uk and europe, as well. >> and despite that relative change of optimism, there's still incentives, though? >> yeah. >> it's not going to translate into any big action? >> what we've seen with the survey is that sentiment really does seesaw on the basis of what's happening in the macro economy. so you get a shocking europe and sentiment tanks. you get good news from europe and sentiment picks up. what we've found is that the strategies that companies are actually following, mu